Get the free 2005 Form 1120-IC-DISC (Schedule P). Intercompany Transfer Price or Commission - irs

SCHEDULE P (Form 1120-IC-DISC) Department of the Treasury Internal Revenue Service Intercompany Transfer Price or Commission Attach a separate schedule for each transaction or group of transactions

How to fill out 2005 form 1120-ic-disc schedule

How to fill out 2005 form 1120-ic-disc schedule:

1. Begin by downloading the 2005 form 1120-ic-disc schedule from the IRS website or obtaining a physical copy from a local IRS office.
2. Carefully read the instructions provided with the form to ensure you understand the requirements and have all the necessary information.
3. Start by providing the name, address, and employer identification number (EIN) of the IC-DISC (Interest Charge Domestic International Sales Corporation) entity for which this schedule is being filled out.
4. Proceed to the first section of the form, which requires information such as the IC-DISC's initial tax year, accounting method, and other details related to its formation.
5. Move on to the second section, which deals with the IC-DISC's shareholders or beneficiaries. Provide their names, addresses, ownership percentages, and related details.
6. Next, continue to the third section, which requires information about the IC-DISC's income. This includes both taxable and non-taxable income, as well as interest, ordinary gains or losses, and any deductions or credits.
7. In the fourth section, report any dividends or similar distributions made during the tax year, including their amounts and recipient details.
8. Proceed to the fifth section, which deals with the IC-DISC's earnings and profits. Provide the beginning and ending balances, as well as any adjustments or distributions made during the tax year.
9. Complete the remaining sections as applicable, providing accurate information about the IC-DISC's balance sheets, capital accounts, and other specific details required by the form.
10. Once all the necessary information has been provided, double-check your entries to ensure accuracy and eliminate any errors or inconsistencies.
11. Sign and date the form as the responsible party, indicating your authority to submit the information on behalf of the IC-DISC.
12. Keep a copy of the filled form for your records and submit it to the IRS by the required due date.

Who needs 2005 form 1120-ic-disc schedule:

1. Business entities in the form of Interest Charge Domestic International Sales Corporations (IC-DISCs) that were active during the tax year 2005.
2. Shareholders or beneficiaries of IC-DISCs who need to report their ownership percentages, distributions, and other relevant information for tax purposes.
3. Tax preparers or professionals handling the tax filing obligations for IC-DISCs and their shareholders or beneficiaries.

For pdfFiller’s FAQs

What is form 1120-ic-disc schedule p?

Form 1120-IC-DISC Schedule P is a schedule that must be filed by an Interest Charge Domestic International Sales Corporation (IC-DISC) to compute and report the interest charge on deferred tax under section 995(a)(1)(G) of the Internal Revenue Code.

Who is required to file form 1120-ic-disc schedule p?

An Interest Charge Domestic International Sales Corporation (IC-DISC) is required to file form 1120-IC-DISC Schedule P.

How to fill out form 1120-ic-disc schedule p?

To fill out form 1120-IC-DISC Schedule P, enter the required information such as the IC-DISC's name, EIN, and tax year. Calculate the interest charge on deferred tax and provide the necessary details related to the computation. Finally, sign and date the form.

What is the purpose of form 1120-ic-disc schedule p?

The purpose of form 1120-IC-DISC Schedule P is to determine and report the interest charge on deferred tax for an Interest Charge Domestic International Sales Corporation (IC-DISC). It helps in the proper calculation and payment of taxes by the IC-DISC.

What information must be reported on form 1120-ic-disc schedule p?

Form 1120-IC-DISC Schedule P requires the IC-DISC to report its name, EIN, and tax year. It also requires the computation of the interest charge on deferred tax and related supporting details.

How do I complete 2005 form 1120-ic-disc schedule online?

pdfFiller makes it easy to finish and sign 2005 form 1120-ic-disc schedule online. It lets you make changes to original PDF content, highlight, black out, erase, and write text anywhere on a page, legally eSign your form, and more, all from one place. Create a free account and use the web to keep track of professional documents.

How do I fill out 2005 form 1120-ic-disc schedule using my mobile device?

You can quickly make and fill out legal forms with the help of the pdfFiller app on your phone. Complete and sign 2005 form 1120-ic-disc schedule and other documents on your mobile device using the application. If you want to learn more about how the PDF editor works, go to pdfFiller.com.

How do I complete 2005 form 1120-ic-disc schedule on an iOS device?

In order to fill out documents on your iOS device, install the pdfFiller app. Create an account or log in to an existing one if you have a subscription to the service. Once the registration process is complete, upload your 2005 form 1120-ic-disc schedule. You now can take advantage of pdfFiller's advanced functionalities: adding fillable fields and eSigning documents, and accessing them from any device, wherever you are.